Venuelabs Unveils Klout-Like Business Scores
Venuelabs Unveils Klout-Like Business Scores
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The influencer scoring market just got a little more interesting as Venuelabs (formerly Valuevine) recently launched something it’s calling VenueRank. The tagline treatment is that it’s sort of a Klout score for businesses, but that actually isn’t a very apt description. It’s similar in that a single location of a business — a storefront — gets a numeric value based on a number of online metric indicators. But it has less to do with influence and more to do with how the business is faring in the online world.

It’s kind of a digital marketing Q-Score.

The service was launched at the GeoLoco Conference in San Francisco a couple of weeks ago. TechCrunch covered it with a nice round up and some screen grabs as well. Check out their piece for more news-type coverage of it.

VenueRank Location BubbleThe thought to put a performance score on geographic locations of a business based on its online performance is interesting, even if it does bring a lot of attention to a brand or franchise’s geo-location woes, which Venuelabs can conveniently fill with their other services. Yeah, this is a gimmicky way to make companies more aware that their online engagement, reach, community or sentiment isn’t just tied to their brand. It’s also tied to their locations.

But regardless of the fact the VenueRank is a neat lead and interest generator for Venuelabs, applying this type of location-by-location scoring to brands is damn interesting.

For perhaps the first time, franchise and multiple-location businesses can get a Q-score like index for their online marketing efforts, either in aggregate or by location. A Jamba Juice brand manager can see that they have a 75 overall score, but can the break it down and see that location 47 has a 47 which can help them find the weak links and fix them.

VenueRank apparently bases its score on the reach a brand or store has (is it represented across multiple platforms), the level of engagement they have (comments, likes, check-ins, etc.), a community score (follower counts, etc.) and customer happiness (based on sentiment scores around comments tied to the store or brand). The service allows its customers to compare storefronts within a brand, across brands (for side-by-sides with competition), groups of stores within and across brands and trend location scores over time.

While there’s still some unknowns about the algorithms and wide adoption stands in the way of VenueRank really mattering on scale, big brand retailers and franchise businesses can get a lot of usefulness out of the tool, even if just for system optimization. The big appeal here is that someone has figured out a way for a brand manager to look at a map of stores, each with a 0-100 number attached to them and see where problem areas in digital marketing might be rising on the local level.

Even if the algorithm is flawed or immature, it’s a easy button for judging a vast array of stores. It’s a start. And many brands will probably like having that.

You can visit VenueRank.com and submit a simple form to get a teaser of your scores based on your brand name. I’m sure filling that form out gives you some decent information and plenty of places to contact Venuelabs for more information in applying the ranks across your brand. As I understand it, the initial report is free.

About the Author

Jason Falls
Jason Falls is the founder of Social Media Explorer and one of the most notable and outspoken voices in the social media marketing industry. He is a noted marketing keynote speaker, author of two books and unapologetic bourbon aficionado. He can also be found at JasonFalls.com.
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  • Thanks Jason for the conversation about VenueRank.  With over 70k storefronts being tracked, VenueRank was a natural next step for our brand clients; they have been struggling to translate the overload of local, mobile, and social “signals” into something they can follow and manage over time.  VenueRank is a single at-a-glance metric that can power a single location view of their own performance, but also comparisons within brand, in geographies, and competitively across brands.  

    To be honest, what we are most interested in right now is how our clients are embracing this metric as an ROI measure to better understand the local impact of marketing and advertising initiatives – a need that has been expressed to us as brands continue to shift parts of their budget to local advertising.

    We’d love to hear more thoughts from the community.

    Thanks,

    Neil

    @Venuelabs

  • Guest

    Thanks Jason for the conversation about VenueRank.  With over 70k storefronts being tracked, VenueRank was a natural next step for our brand clients; they have been struggling to translate the overload of local, mobile, and social “signals” into something they can follow and manage over time.  VenueRank is a single at-a-glance metric that can power a single location view of their own performance, but also comparisons within brand, in geographies, and competitively across brands.  

    To be honest, what we are most interested in right now is how our clients are embracing this metric as an ROI measure to better understand the local impact of marketing and advertising initiatives – a need that has been expressed to us as brands continue to shift parts of their budget to local advertising.

    We’d love to hear more thoughts from the community.

    Thanks,

    Neil

    @Venuelabs

  • Anonymous

    Wow, the BBB just keeps getting smaller in the distance.

  • Lexingtonian

    Wow, the BBB just keeps getting smaller in the distance.